Keep Our Service Free-Donate

Tuesday, May 10, 2016

Inequality for All

The
American Government has become a bureaucratic tumor, no longer does
it work for the people. It is sucking the lifeblood and freedom from
the people it is supposed to be serving. It's only a matter of time
before it self-destructs. >the Poor Man

Inequality for All

An
economist walks past a hundred dollar bill om the sidewalk and
doesn't pick it up. His friends ask why. “If it were worth
something, someone else would have grabbed it already.” And that
kind of sums up how many people today think about Obama's efforts at
helping the middle class.

Fewer
people are spending any real real money but they are going into debt
again and the layoffs and retail store closings are starting again
and cities are still languishing...It's happening in China and in
Europe too.

No
sooner had Mr. Trump become the presumptive GOP nominee and the
kindergarten antics began. Former GOP presidents refused to support
Trump because their boy didn't get the nod, GOP big shots wouldn't
add their support offering a wait and see promise [hoping perhaps
Bernie would pull off a miracle against Clinton] and some groups are
urging advertisers such as Coca Cola to withhold support of the GOP
convention in Cleveland this summer.

In
recent years the GOP has become notorious for its impotence and it
refuses any kind of Viagra. Trump, an outsider, using his own cash,
managed to thumb his nose at the political elite and managed to break
the sound barrier of politically incorrect sound bites by tapping
into the anger and frustration of the middle class feels against
career politicians who have screwed them and the nation while serving
their corporate master.

If
you're a political outside the two parties make it especially
difficult to run-they've designed it that way on purpose. Just
ask anyone from the Libertarian Party or other third party.

Ironically,
polls indicate the majority of Americans do not trust either Clinton
or Trump and as usual, it will boil down to choosing the lesser of
the two evils but it is interesting to finally see someone outside of
the political mainstream achieve what Trump did.

Some
Democratic Party members, even rank and file Democrats, have grown
sick and tired of the Clintons. There's even a rumor floating
around that hints that she'll make Obama her running mate! If
something were to happen to Hillary, Obama would become President
again.

If
that were to happen, our freedom would further erode, especially in
the area of gun rights and it is speculated that Hillary would
nationalize retirement accounts under the so-called Guaranteed
Retirement Accounts [GRAs] first mentioned by Obama in a State of the
Union speech.

Trump
was further chastised on a Yahoo news story for a potential plan to
wipe out the national debt with a semi-bankruptcy plan. The response
was immediate and harsh as to be expected from the ill-informed.
Think about however, both parties have been bankrupting this nation
for past 50 years. Our income tax system is a bad joke and our
spending power is has eroded by 45% in just the past 15 years! The
Fed [which is a bunch of bankers Thomas Jefferson warned us against]
has done a great job of denigrating the value of our dollar already
thank you.

In
either case, should Trump and Clinton become the nominees, I predict
we'll see one of the dirtiest races ever waged between the two
parties. The Clinton's in particular, are no strangers to dirty
politics.

In
the Grip of Greed

Thanks
to former President Clinton financial markets are now akin to casino
only most people don't seem to get it. The game is rigged by the
Fed, the banks and high-frequency traders. Clinton' elimination of
the 90-year-old protective Glass-Steagall Act allowed Wall Street
unrestrained gambling with virtually no government oversight which
led to the crash which nearly wiped out America and which the average
American is still paying for. [Why do you think Hillary got paid
more than $640K from Goldman-Sachs...to keep the Act from being
reinstated should she be elected to the oval office, of course].
Many economists are already predicting a repeat of our earlier crash
– only worse and much of it can still be blamed on the revolving
door between officials in DC and Wall Street.

The
regulatory state in DC is nothing more than a wholly owned subsidiary
of Wall Street.

There
have always been booms and busts but as the Fed continually
introduces more artificial unknowns and as the government continually
introduces more job choking red tape and regulation [at the state and
federal level] these recessions become worse and we become less
competitive. According to Shadow Stats, for instance, our jobless
numbers hover more closely around 22% versus the 5.65% number Obama
gives us [The government is famous for its verisimilitude].

Trump
is right...the system is rigged but it is not just elections.
The economy is rigged against working people. The income gap in
America has grown under every President since Clinton's second term
creating a sluggish, unequal and crisis-prone economy because of tax
giveaways, financial sector deregulation, lack of oversight and more.

American
capitalism has become a sort of crony capitalism more akin to a
third-world autocracy than a supposedly free-market system.

The
system is rigged because we have the most expensive government can
buy...

The
headlines look good now but if you dig deeper you'll find trouble.
Unemployment has dropped partly because a huge number [something
which Trump and others have pointed out] have given up looking for a
job. The labor participation rate dropping to a 38-year low.
Household income for the average American family, meanwhile is still
$4,000 lower than when Bill Clinton left office. This has been the
weakest recovery in the postwar era, said the Wall Street
Journal
in an editorial recently.

America
has seen a wage stagnation and a decline in manufacturing plus a
failure to find a new source of middle class jobs to replace it.
[sources: Robert Reich's InequalityforAll.com
and
Bruce David's How
to Survive the War on the Middle Class].

Pity
the young, said Rich Miller in Bloomberg.com
–
A coming collapse in investment returns means 30-year-olds starting
to put aside money today will have to work seven years longer or save
almost twice as much to build up the same nest egg as their parents.
That bleak finding indicates the golden era for investors is ending.

The
Tax Foundation, a non-profit think tank released their annual
report last month and it contained some sobering realities about the
cost of government.

>In
2016, Americans, will pay over $3.3 trillion in federal taxes and
$1.6 trillion in state and local taxes or 31 percent of the nation's
income.

>Americans
will collectively spend more on taxes in 2016 than they will on food,
clothing, and housing combined!.

John
Williams of shadowstats.com
tracks what the official government numbers would be if honest
numbers were actually being used, and according to him U.S. GDP
growth has been continuously negative since 2005.

I know
it's a challenge for many of us to save money today, especially if
you have children. That's why I frequently write about part time
income strategies [you can get my Escaping the Rat Race CD ROM
for only $5 ppd. at our storefront]...further, I always urge folks to
grow their own food, and to buy their own home with at least an acre
or more so you can grow food and perhaps have a bit of livestock.
This I feel, makes an ideal wealth preserving tool and is something
you can hand down to your children.

Yours
for better living,

Bruce,
'The Poor Man'

Additional
Resources

Cheapest
and Easiest Ways to do a Will
(Clark Howard): "What are the odds you don't have a will?
The best guess is that 50% of people don't have one. If you
don't have children and have very little in the way of assets,
that may be OK for you. But if you do have children, you need
a will for the simple fact that if you don't have one, the
state will decide who raises your kids."

The
$15 Retirement Plan
(The Simple Dollar): "All you need is $15 a day to retire
very nicely if you start when you’re young. That’s just a
bit of pocket money most days. Let’s run through the
math."

The
Money Boss Manual: A Brief Guide to Financial
Independence (Money
Boss): "I’m pleased to announce that, at long last, A
Brief Guide to Financial Independence is available to
download. This free 70-page PDF collects all of the material
from my “financial independence crash course” into one
convenient document."

Normally
I charge $14.95 for this collection, however I feel it is so
important I am going to share it with you free of charge and I
urge you to share it with your family and friends while it is
still available. Your donations are appreciate however!

How
to Survive the War on the Middle Class

14 of the best reports I’ve
assembled on protecting your freedom…Here is the download
link.